Dáil debates

Wednesday, 9 October 2013

Other Questions

Pension Provisions

2:20 pm

Photo of Brendan HowlinBrendan Howlin (Wexford, Labour) | Oireachtas source

As legislated for in the Financial Emergency Measures in the Public Interest Act 2013, and as noted in the Haddington Road agreement, the rate of pension related deduction on the €15,000 to €20,000 band of pay received in a year will fall from 5% to 2.5% on 1 January 2014. This rate cut will be worth €125 annually in gross terms to most public servants, with those taxed at the standard rate enjoying the greater gain in terms of take-home pay boost.

As noted in the Haddington Road agreement, the rate of the pension-related deduction on the €15,000 to €20,000 band of pay received per year will fall from 5% to 2.5% from 1 January next. This rate cut will be worth €125 annually in gross terms to most civil servants, with those taxed at the standard rate enjoying the greatest gain in take home pay.

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